JSE-listed Adapt IT has acquired ICT firm Conor Group for R80 million, and will be used to strengthen the Adapt IT Telecoms solutions division, it said.
Conor is a dynamic software business that provides high performance telco and mobile financial service products, covering areas such as the core network applications, enterprise mobility, big data and analytics, and mobile payments to the telecommunications industry in 10 countries across Africa and South America.
The group currently employs 60 people.
Conor’s products are used to support 2 billion mobile data transactions per day; facilitate 150 million SMS deliveries per day; 100 million USSD transactions per day; 50 million advert deliveries per day; supporting 13TB of enterprise data mobility traffic per month – for consumption by over 13,000 subscribers, the group said.
According to Adapt IT, the acquisition will improve the group’s revenue and geographic diversification as the Conor customer base creates cross-selling opportunities in local and foreign markets for the Adapt IT telecommunications software solutions.